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Investments

3

Portfolio Exits

1

About Blue Star Capital

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Blue Star Capital hails growing esports sector as shares soar

Mar 25, 2022

A look at the major movers on the London market on Friday Dublin Blue Star Capital PLC climbed over 36% to 0.003p after its final results were released today, which showed net assets had grown by 36% to over £12mln. Pre-tax profits also grew by a quarter compared to the previous year to just over £2mln. The investment company focused on esports and new technologies such as blockchain and NFTs said eight of its portfolio companies in esports and mobile gaming demonstrated “investment potential and growing investors interest.” 2.20pm: Goldstone rallies thanks to Homase Mine Goldstone Resources PLC rallied 13% to 9p after announcing gold production at its Homase Mine got underway, with the miner reporting it has produced and sold 1,717 troy ounces of gold so far this year. The AIM listed company was also undoubtedly boosted by rising gold prices, currently at US$1,956 per ounce following the ban on Russia. According to a statement, the Homase Mine is continuing to progress its capital efficient mine and expects to achieve a cash cost of around US$840 per oz for the remainder of 2022, with an all in sustaining cost of US$970 per ounce 1.19pm: Airtel sells Malawi business Airtel Africa fell 9% to 140.3p after selling its Malawi business to Helios Towers PLC. The deal is expected to be in the region of US$55mln, with Helio adding 723 towers to its portfolio. A 12-year service agreement has also been signed between London-based Helios and Airtel Africa on the acquired assets, which are expected to generate revenue of US$23mln and adjusted EBITDA of US$8mln in their first full year of ownership. 11.50am: Petropavlosk affected by sanctions on gold Petropavlovsk PLC (LSE:POG) crumbled a further 10% to 1.59p after the Russian-based miner said it was not able to sell any gold due to the economic sanctions recently imposed on its bank and principal offtaker. Gazprombank, which is the buyer of 100% of the group's gold production, was yesterday added to the UK sanctions list in reaction to Russia's ongoing invasion of Ukraine, prohibiting further sales of gold. POG said restrictions on the purchase and sale of gold in Russia "may complicate the search for an alternative purchaser" and so it is "urgently considering" with advisers about what it can do. Shares in POG have fallen more than 90% since the invasion began. 9.50am: Hibernia accepts discounted takeover offer Hibernia REIT PLC (AIM:HBRN, OTC:HIBRF) , the Irish property investor, has jigged 37.6% higher to 135.4p after agreeing to be taken over by Canadian giant Brookfield. Brookfield will pay €1.634 in cash for each Hibernia share, which is partly made up by a dividend of 3.4 euro cents per share, and together values the REIT at just under €1.1bn. The price is a 5.7% discount to Hibernia REIT's EPRA net tangbile assets per share as at 31 December of 173.2 cents, though a 3% premium if also taking into account the directors' current estimates of expected latent tax and debt breakage costs for the buyer. Danny Kitchen, chair of Hibernia, said: "Despite significant progress against its strategic objectives and a track record of successfully recycling capital into value accretive opportunities, Hibernia REIT has traded at a persistent discount to its prevailing EPRA NTA per share. The acquisition recognises the company's prospects and the quality of its portfolio of assets and delivers an acceleration of the value we expect to be created from completion of Hibernia REIT's major office development projects." 9.11am: Orphan opens higher Open Orphan PLC (AIM:ORPH, OTC:OPORF) climbed 7% to 14.5p after it told investors it had been awarded a £5mln human challenge study contract by a European company to test an intravenous antiviral candidate for respiratory syncytial virus (RSV). The biotech, an existing customer, will use the hVIVO RSV Human Challenge Study Model on a cohort of healthy young adult volunteers. Revenues from the contract should be recognised across 2022 and 2023, said Open Orphan, with volunteers to be recruited through its volunteer recruitment arm, FluCamp. Elsewhere, Empyrean Energy PLC (AIM:EME) was up 10% to 11.6p after confirming its Jade Exploration well to spud at the end of next week. The company, in a statement, said that the China Oilfield Services Limited (COSL) owned NH9 drill rig will be handed over to Empyrean within the next few days for safety checks. Mobilisation is anticipated on or around March 27. Spudding on April 2 remains subject to prevailing weather conditions to ensure the safe anchorage of the NH9 rig at the Jade location, the company noted. "We are delighted that we are now days away from being ready to spud one of the highest impact and exciting wells of 2022,” said Empyrean chief executive Tom Kelly. Add related topics to MyProactive

Blue Star Capital Investments

3 Investments

Blue Star Capital has made 3 investments. Their latest investment was in eSeekers as part of their Seed VC on September 9, 2006.

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Blue Star Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/12/2006

Seed VC

eSeekers

$0.59M

Yes

1/5/2005

Unattributed VC - VII

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$99M

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0

9/21/2000

Unattributed VC - II

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$99M

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0

Date

9/12/2006

1/5/2005

9/21/2000

Round

Seed VC

Unattributed VC - VII

Unattributed VC - II

Company

eSeekers

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Amount

$0.59M

$99M

$99M

New?

Yes

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Co-Investors

Sources

0

0

Blue Star Capital Portfolio Exits

1 Portfolio Exit

Blue Star Capital has 1 portfolio exit. Their latest portfolio exit was Velocity Express on October 06, 2005.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/6/2005

IPO

Date

10/6/2005

Exit

IPO

Companies

Valuation

Acquirer

Sources

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